Yashish DahiyaLife is unpredictable. In fact, life happens when you least expect it. So, what happens if you meet an accident on your way back home or trip down the stairs and break your back? Scary isn’t it? What is even more frightening is watching your family struggle if any of these, god forbid, happens to you. In such a case, what would you do or let’s put it this way: what can you really do? Yes, you have a life insurance plan to take care of you and your family but, is it really suffice? Now imagine the same scenario. You meet an accident on your way back home or hurt yourself during the day, which leaves you bed-ridden permanently. But you have what is called a ‘personal accident insurance plan’ along with your life insurance plan. While you may bank on your life cover in case of death, you have your personal accident cover to you rescue in case of disability. We make it simple for you to understand. Cover against a disabilityAs the name suggests, … [Read more...] about Why buying personal accident cover is important?
Personal year 2
Gaurav AggarwalWith quick approvals, no collateral requirement, no restriction on end use of funds and pre-approved offers, personal loans can be extremely helpful in bailing you out of a financial crisis. However, there are several misconceptions around personal loans, which often leads to people opting for more expensive or time-consuming means to meet their needs for urgent funds met.Here are some of the most common myths around personal loans:Close They involve long processing time: Many borrowers believe that personal loans involve long processing time and tedious approval processes. This isn’t true. Personal loans today are quickly processed with minimal documentation, especially if you go through the online route. Lenders today extend pre-approved offers and instant approvals which ensure loans are disbursed to consumers within a day. Also, since these are unsecured loans requiring no collateral, their documentation is much simpler. related news Use … [Read more...] about Steer clear of these 7 personal loan myths
Do you have a home loan and are in need of some extra money? There is a better alternative to getting a personal loan, gold loan or loan against property (LAP) -- a top-up home loan."Generally, top-up home loans are given for home renovation or extension of home and for personal needs such as financing marriage, medical expenses or paying education fees, etc.," said Sachin Chaudhary, Chief Operating Officer, Indiabulls Housing Finance.Manav Jeet, Managing Director and Chief Executive Officer at Rubique said that his company already advises customers to go for top-up home loans, since the interest rate on them is similar to that on their existing home loan, and processing fees are less or waived off in certain cases.Close Top-up home loan rates by some of the banks related news Exclusive | Govt may float ‘amnesty’ scheme for unaccounted gold; set up gold board: Sources Moneycontrol PF podcast | Active or passive funds: Find out which is the … [Read more...] about Need money? Think about a top-up home loan instead of personal loan or gold loan
Sanjay Dutt’s biopic Sanju is breaking records on domestic box office collection. This movie has decent entertainment value across age groups. Sanjay Dutt’s life story could also provide with some important personal finance lessons. Here are some of them:i. Blindly following friends'/relatives' advice is badIn our network, we are surrounded by people who cannot be trusted. In movie it’s displayed, Sanju’s friend consumes glucose but persuades him to consume drugs. Such ‘friends’ just love your money and don’t care for you. Similarly, there are so-called well-wishers who recommend us to invest in insurance policies or penny stocks which give poor returns in the long term while they themselves will be investing in financial assets which are giving inflation-beating returns in the long term. If the ‘Friend’ is an insurance agent or broker, those recommended insurance policies will earn them hefty commissions and trailing income … [Read more...] about 5 personal finance lessons from biopic Sanju
The beginning of a new financial year is an ideal time to review your financial plan, set your financial goals for the year and plan beforehand rather than leaving everything for the last day. Let us look at 8 important actions financial advisors recommend you should take now from a personal finance perspective.1. Review your investment portfolio and re-balance investment mixIf you haven't reviewed your portfolio for a while, there is a good chance that relative market performance of asset classes in last one year has changed your investment mix, causing your combination of mutual funds, stocks, bonds and cash to drift away from your plan. Viral Bhatt, Founder and Advisor at Money Mantra cautions, “At times, procrastinating reviewing of your portfolio can add risk—which might cause portfolio to experience larger losses than you are comfortable with in the event of a down market.”It’s important to adjust your investment strategy and target asset mix if you have … [Read more...] about 8 steps to organise your personal finances in the new financial year